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INDIA BUSINESS WORLD - NOVEMBER 16th - NOVEMBER 30th - 2007
The Month that was ...
News & important developments from the most prospective of the New World markets... India. Our effort is to provide you with the latest and relevant developments that take place in the Indian business, economic and legal environment.
ECONOMIC & LEGAL NEWS
OATH IN THE NAME OF ALLAH FINE, RULES SUPREME COURT: It is constitutionally valid for legislators to take the oath of office and secrecy 'in the name of Allah', the Supreme Court has ruled, dismissing a petition challenging the same... More....
COURT BANS GODREJ AD BELITTLING SANTOOR: Soaps to software giant Wipro got a breather, with a Hyderabad Court restraining Godrej from advertising its soap Godrej No 1...More....
AUTHORITY FOR ADVANCE RULINGS PAVES WAY FOR CAP GAINS TAX ON VODAFONE: In a decision that may boost the income-tax department's chances of bringing the $11.1-billion deal between Hutchison International and Vodafone into the tax net, the Authority for Advance Rulings (AAR) has held in a similar case that transaction of Indian shares between two foreign entities is liable for capital gains tax in the country. More....
SUPREME COURT TO HEAR PLEA OF SBI'S JANATA DEPOSITORS: The Supreme Court has decided to examine the plea of State Bank of India's Janata Deposit Collectors Association seeking direction to the bank not to discontinue the scheme which was introduced to mobilise the savings of small and middle class people across the country. More....
T-SERIES DRAGS YOUTUBE.COM TO COURT: Entertainment major T-Series has taken the video-sharing website YouTube.com to court, alleging violation of copyrights for its music productsMore....
STAMP DUTY IN CAPITAL REDUCED TO 6%: The stamp duty for registration of properties in Delhi will now be 6% instead of 8%. A notification in this regard was issued by the Delhi Lieutenant Governor Tejendra Khanna.More....
BAR COUNCIL MEET REJECTS ENTRY OF FOREIGN LAWYERS: A joint consultative conference of the Bar Council of India and state bar councils has unanimously urged the Centre not to open up the Indian legal profession to foreign lawyers and not to take any unilateral decision in this regardMore....
ANSALS GUILTY IN UPHAAR TRAGEDY: COURT: A city court has found real-estate tycoons Sushil and Gopal Ansal and 10 others guilty in the decade-old Uphaar caseMore....
DELHI HIGH COURT UPHOLDS FUNDAMENTAL RIGHT OF ACCUSED TO LEGAL AID: The Delhi High Court has upheld the Fundamental Right of an accused of being represented before the courtMore....
SUPREME COURT ASKS CBI TO CONTINUE WITH NOIDA PLOT SCAM PROBE: The Supreme Court has asked CBI to continue investigations into the Rs 200 crore Noida land scam that occurred during Mulayam Singh Yadav's tenure as chief ministerMore....
SUPREME COURT GRANTS BAIL TO SANJAY DUTT, 17 OTHERS: The Supreme Court has cleared the decks for release of Bollywood actor Sanjay Dutt, his friend Yusuf Mohsin Nulwalla and 15 others when it granted bail to 17 out of 25 petitioners in the 1993 Mumbai serial blasts caseMore....
EARNING WIFE CAN CLAIM ALIMONY, RULES SUPREME COURT: A deserted wife has to earn enough to sustain herself to be denied maintenance, the Supreme Court has ruledMore....
MADRAS HIGH COURT GOES TO RENAL PATIENT'S AID: DIRECTS RELAXATION OF RULES: The Madras High court has directed the medical authorities to relax certain rules to enable a woman patient to undergo kidney transplantationMore....
Others..
BUSINESS NEWS
SUPREME COURT TAKES UP I-T PLEA IN DLF ARM CASE: Consider this. A real estate firm acquires the right to purchase the plots in an area from another real estate company. The seller company authorises the firm to nominate another person in its place as purchaserMore....
INCORRECT INFO TO INSURERS CAN LEAD TO REPUDIATION OF POLICY, RULES SUPREME COURT: Be careful in furnishing information while buying an insurance policy. Giving incorrect information can lend you in trouble in the form of repudiation of the policy. So says a ruling of the Supreme CourtMore....
SEBI AMENDS GUIDELINES ON FAST TRACK ISSUES AND ISSUE OF INDIAN DEPOSITORY RECIPIENTS: The Securities and Exchange Board of India has amended the SEBI guidelines on Fast Track Issues and Issue of Indian Depository RecipientsMore....
TCS BAGS $200-M, FOUR-YEAR CONTRACT IN MEXICO: Tata Consultancy Services has bagged a four-year contract of over $200 million from the Social Security Institute of Mexico (IMSS)More....
GE ENERGY FINANCIAL BUYS 26% OF SAYI POWER: GE Energy Financial Services, a unit of GE, has acquired nearly 26% stake in Sayi Power Energy that is the majority owner of KSK Power VentureMore....
RELIANCE OFFLOADS 4.01% STAKE IN RELIANCE PETROLEUM FOR RS 4,023 CRORE: Reliance Industries, the country's largest private sector company, has sold a small stake in subsidiary Reliance Petroleum (RPL) in an effort to increase the company's shareholder baseMore....
Others..
NEW DEVELOPMENTS AND JOINT VENTURES
INFRASTRUCTURE FOR UNAUTHORISED COLONIES: SC NOTICES TO MCD AND JAL BOARD: The Supreme Court has issued notices to the Municipal Corporation of Delhi (MCD) and Delhi Jal Board on an application filed by the Centre seeking permission to provide basic infrastructure in 1500 unauthorised and unregularised colonies spread all over the CapitalMore....
BCCL PICKS UP STAKE IN WALCHAND TALENTFIRST: Bennett, Coleman & Co (BCCL) has picked up a stake in Walchand TalentFirst, a people-development and performance enhancement training and consulting companyMore....
MANIPAL ARM BUYS 50% IN U21 GLOBAL: Bangalore-based Manipal Education's international arm, Manipal Universal Learning International (Muli), has acquired 50% stake in global online graduate school U21Global, an international network of 20 leading universities across 12 countries, for an undisclosed sumMore....
NITESH IN JOINT VENTURE WITH SAGAR GROUP FOR RS 1,000CR REALTY PROJECT IN BANGALORE: Real estate company Nitesh Estates is floating an equal joint venture with city-based diversified business house Sagar Group to develop a Rs 1,000-crore mixed use real estate projectMore....
ARCELOR MITTAL ACQUIRES CONTROLLING STAKE IN A CHINESE STEEL FIRM - CHINA ORIENTAL: Billionaire Lakshmi Mittal-led ArcelorMittal, the world's biggest steelmaker, has become the first foreign company to acquire controlling stake in a Chinese steel firm - China Oriental - in a deal valued at about $1.6 billion (over Rs 6,000 crore)More....
FIIS, RELIANCE CAPITAL PICK UP 15% IN NITCO: Leading foreign investors - Lehman Brothers, Citigroup, Merrill Lynch and Deutsche Bank - along with Reliance Capital, have picked up a 15% stake in publicly-listed Nitco Tiles, a leading tile manufacturing firm, for around Rs 170 croreMore....
DLF PICKS UP MAJORITY IN AMANRESORTS FOR $400M: Real estate major DLF has entered into an agreement to acquire a controlling stake in the Amanresorts group for $400 million. The investment will be made by Overseas Hotels, a DLF subsidiary..More....
Others..
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